TUCSON,
Ariz., Aug. 18, 2022 /PRNewswire/ -- Accelerate
Diagnostics, Inc. (Nasdaq: AXDX) ("Accelerate Diagnostics") today
announced the pricing of an underwritten public offering of
17,500,000 shares of its common stock at a price to the public of
$2.00 per share. The gross proceeds
to Accelerate Diagnostics from the offering, before deducting the
underwriting discounts and commissions and estimated offering
expenses, are expected to be $35.0
million. In addition, Accelerate Diagnostics has granted the
underwriters a 30-day option to purchase up to an additional
2,625,000 shares of its common stock at the public offering price,
less the underwriting discounts and commissions. Accelerate
Diagnostics anticipates using the net proceeds from the offering
for general corporate purposes and to fund commercialization
efforts. All of the shares are being offered by Accelerate
Diagnostics, and the offering is expected to close on or about
August 23, 2022, subject to customary
closing conditions.
William Blair & Company,
L.L.C. is acting as lead book-running manager for the offering.
Oppenheimer & Co. Inc. is acting as a book-running manager and
Craig-Hallum Capital Group LLC is acting as co-manager for the
offering.
A shelf registration statement relating to the shares was filed
with the U.S. Securities and Exchange Commission (the "SEC") on
January 27, 2021 and declared
effective on February 4, 2021. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering were filed with the SEC. A copy of the
final prospectus supplement and accompanying prospectus relating to
the offering, when available, may be obtained from William Blair & Company, L.L.C., Attention:
Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at (800)
621-0687, or by email at prospectus@williamblair.com or by visiting
the EDGAR database on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. is an in vitro diagnostics
company dedicated to providing solutions for the global challenges
of antimicrobial resistance and sepsis. The Accelerate
Pheno® system and Accelerate Arc™ system are
designed to reduce the time clinicians must wait to determine the
most optimal antibiotic therapy for bacteremic patients. These
diagnostic systems are designed to serve clinical laboratories with
automated solutions to expedite time to identification and
antimicrobial susceptibility test results directly from positive
blood culture samples.
The "ACCELERATE DIAGNOSTICS" and "ACCELERATE PHENO" and
"ACCELERATE PHENOTEST" and "ACCELERATE ARC" and diamond shaped
logos and marks are trademarks or registered trademarks of
Accelerate Diagnostics, Inc.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to Accelerate
Diagnostics' expectations regarding the anticipated closing date
and its anticipated use of the net proceeds from the offering.
Actual results or developments may differ materially from those
projected or implied in these forward-looking statements and
Accelerate Diagnostics cautions investors not to place undue
reliance on the forward-looking statements contained in this press
release. Factors that may cause such a difference include risks and
uncertainties related to completion of the public offering on the
anticipated terms or at all, market conditions and the satisfaction
of customary closing conditions related to the public offering.
More information about the risks and uncertainties faced by
Accelerate Diagnostics is contained in the section captioned "Risk
Factors" in the preliminary prospectus supplement filed with the
SEC and the documents incorporated by reference therein, which
include Accelerate Diagnostics' Annual Report on Form 10-K for the
year ended December 31, 2021 and
Quarterly Reports Form 10-Q for the periods ended March 31, 2022 and June
30, 2022. Except as required by law, Accelerate Diagnostics
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Accelerate Diagnostics, Inc.